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UNITED STATES
 
 
SECURITIES AND EXCHANGE COMMISSION
 
 
Washington, D.C.  20549
 
_____________________


FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  March 16, 2009


KEY TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)

OREGON
0-21820
93-0822509
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
 Identification No.)

150 Avery Street
Walla Walla, Washington 99362
(Address of principal executive offices) (Zip Code)

(509) 529-2161
(Registrant’s telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


 
 

 


ITEM 8.01
OTHER EVENTS
   
   
On March 16, 2009, Key Technology, Inc. (the “Company”) announced it has reached an agreement to acquire a minority interest in Proditec SAS, a manufacturer of automated, solid dose pharmaceutical inspection systems based on machine vision technology headquartered in Pessac (Bordeaux), France.  The Company will acquire a 15% minority interest for 870,000 Euros, or approximately $1.1 million, within the next 30 days, subject to certain conditions.  The Company will also acquire an exclusive option to purchase the remaining interest in Proditec through October 5, 2009.  The price and certain of the terms of purchase for the remaining interest are specified in the agreement.  The agreement also includes provisions addressing the potential future relationship between the parties, should the Company not exercise its purchase option.
 


ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
   
 
(d)
Exhibits
   
 
The following exhibit is furnished with this Current Report on Form 8-K:
   
 
99.1
Press Release of Key Technology, Inc., dated March 16, 2009
     


 
 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
KEY TECHNOLOGY, INC.
   
 
/s/ John J. Ehren                                           
 
John J. Ehren
 
Senior Vice President and Chief Financial Officer


Dated:  March 16, 2009

 
 

 



EXHIBIT INDEX


Exhibit No.
 
Description
     
99.1
 
Press release of Key Technology, Inc., dated March 16, 2009